Banking
Banks’ Customer Identification Programs (CIPs)
U.S. financial institutions are required to verify the identity of every individual who opens a bank account. In compliance with federal regulation, all banks operating in the U.S. have established Customer Identification Programs that they are to follow for anyone who seeks to open an account. Below is the minimal information a bank must obtain from you before allowing you to open an account:
- Your name
- Your date of birth
- Your street address – no P.O. Box
- An identification number
An identification number can be one or more of the following:
- A taxpayer ID number (Social Security number or individual taxpayer ID number)
- Passport number and country of issuance
- Alien identification card number
- Any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.
What to Bring When Opening an Account
- Money to deposit
- Your passport and one other form of identification
- Form I-94
- Form I-20 or Form DS-2019
- Local mailing address: Be sure you know all address details (street name and number, mailbox number, town zip code). Bring proof that this is your address, like a bill or letter you have received there.
- Your mother‘s maiden name: The bank will ask you for your mother‘s maiden name (your mother‘s family name before she was married) or some other family name. This name is used as a security check when you need to contact the bank with questions.
- Taxpayer Identification Number – Required by some but not all banks. The following are acceptable to use :
- Social Security number (SSN)- if you have applied but not yet received your SSN, bring your receipt notice
- Individual Taxpayer Identification Number (ITIN)- Issued by the IRS to those not eligible for a Social Security number. If you will apply for an ITIN you will need to open your bank account and then apply for an ITIN.
- Form W-8 BEN (for those not eligible for a Social Security number or ITIN)
